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... Strong consumer spending typically results in higher credit card debt. Economists have also pointed to rising prices, including for essentials like groceries and gas, as a factor behind rising card balances.

Many households are also behind on their card payments.

The percentage of credit card balances that were more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026.

"There are a lot of households who live paycheck to paycheck, and it just needs one thing to happen to them that could lead to a delinquency," New York Fed researchers said on a call with reporters on Tuesday.

But researchers also noted the higher delinquency rates can be attributed to old outstanding debts rather than people falling behind on new charges to their cards. ...